ProShare Advisors LLC Has $244.61 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

ProShare Advisors LLC boosted its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 18.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 389,194 shares of the software maker's stock after purchasing an additional 60,933 shares during the quarter. ProShare Advisors LLC owned 0.14% of Intuit worth $244,608,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of INTU. Norges Bank acquired a new position in shares of Intuit in the 4th quarter valued at $2,290,419,000. Proficio Capital Partners LLC raised its stake in shares of Intuit by 112,233.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock valued at $668,595,000 after buying an additional 1,062,847 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Intuit by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after buying an additional 620,559 shares in the last quarter. Unisphere Establishment raised its stake in shares of Intuit by 50.0% in the 4th quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock valued at $942,750,000 after buying an additional 500,000 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Intuit by 17.3% in the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock valued at $2,118,682,000 after buying an additional 498,030 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the transaction, the executive vice president now owns 21,882 shares of the company's stock, valued at $13,401,849.72. This trade represents a 27.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the transaction, the director now directly owns 8 shares in the company, valued at $4,800. The trade was a 99.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on INTU. HSBC upgraded shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective for the company in a research note on Wednesday, April 23rd. BMO Capital Markets dropped their target price on shares of Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Citigroup dropped their target price on shares of Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Mizuho increased their target price on shares of Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. Finally, Oppenheimer dropped their target price on shares of Intuit from $722.00 to $642.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Intuit has a consensus rating of "Moderate Buy" and a consensus price target of $720.16.

Intuit Trading Up 1.4%

Shares of NASDAQ INTU traded up $8.97 during mid-day trading on Friday, hitting $670.28. The company's stock had a trading volume of 1,555,132 shares, compared to its average volume of 1,610,084. The stock has a market cap of $187.38 billion, a price-to-earnings ratio of 65.08, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a one year low of $532.65 and a one year high of $714.78. The company's fifty day simple moving average is $608.44 and its 200-day simple moving average is $619.15.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit's dividend payout ratio (DPR) is presently 38.81%.

Intuit Company Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.